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Repo Car Auctions Millsboro DE

Repo car auctions are a great source of used vehicles at bargain prices, if you know what you're doing. Repossessed vehicles of all types are available at auction sites all over the country. Learn how it works.

Georgetown Auto Sales
(302) 856-1827
22065 Dupont Blvd
Georgetown, DE

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Daisey's Used Cars Inc
(302) 856-1491
18276 Dupont Blvd
Georgetown, DE

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E Car Auctions
(302) 677-1552
5835 N Dupont Hwy
Dover, DE
 
New Castle Auto Auction & Consignments
(302) 326-2437
415B Old Airport Rd
New Castle, DE
 
L E I M Auto Wholesale
(302) 651-0106
10182 S Dupont Hwy
Felton, DE
 
Floyd Megee Motor Company
(302) 856-0064
P.O Box 330
Georgetown, DE
 
INSURANCE AUTO AUCTIONS INC
(877) 550-1262
417 Old Airport
New Castle, DE
 
E Car Auctions
(302) 677-1552
10182 S Dupont Hwy
Felton, DE
 
Insurance Auto Auctions
(302) 322-1808
417 Old Airport Rd
New Castle, DE
 
NuCar Mazda
(302) 322-2438
172 North Dupont Highway
New Castle, DE
Services
Alignment Repair,Clutch Repair,Fuel Injection Repair,Radiator Repair,Truck Auto Body,Tune up Repair,Auto Dealers

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Repo Car Auctions

What is a repossessed (repo) car?

When a car owner fails to make on-time loan or lease payments, the bank or finance company will repossess the vehicle — take it back. Typically, the buyer will be given a chance to catch up on payments or be made a payoff offer to recover the vehicle. If the buyer does not or can not get the vehicle back, the bank or lending institution takes it over and will sell it to recover some or all of the loan balance.

Repossessed cars are not the same as seized cars, impound cars, or unclaimed cars typically sold by police or government agencies. Repossessed cars belong to banks, credit unions, and finance companies.

Some smaller banks or credit unions may display repo cars in their own parking lots, with "for sale" signs in the window. These cars can be easily spotted when driving by the bank.

Most banks and finance companies hand over repo cars to a professional auction company. When the auction company sells the car, the bank gets the money, less a commission. Auctions can be public, private, or dealer-only auctions. Repossessed car auctions are sometimes mistakenly called "car forcloseure auctions."

When a bank or loan company sells repossessed cars, it wants to recover enough money to pay off the existing loan balance, plus any expenses for towing and storage and the fees of the professional repo company who picked up the vehicle.

In tough economic times, repossessions become mo...

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